South African diversified industrial group Imperial Holdings Ltd got the rights to distribute construction machinery made by New Holland Kobelco in southern Africa, Imperial said on Friday.
Read Full Article at Reuters South Africa
Thursday, January 25, 2007
Rand steady, eyes 7.30/dollar
South Africa's rand was steady against the dollar on Friday, after falling sharply the previous night in tandem with emerging markets, and market watchers did not rule out further weakness during the day.
The rand was trading at 7.27 to the greenback at 0705 GMT, unchanged from its New York close on Thursday. The South Africa currency had earlier on Friday dipped as low as 7.28/dollar.
Read Full Article at Reuters South Africa
The rand was trading at 7.27 to the greenback at 0705 GMT, unchanged from its New York close on Thursday. The South Africa currency had earlier on Friday dipped as low as 7.28/dollar.
Read Full Article at Reuters South Africa
What Is Money?
Everyone uses money. We all want it, work for it and think about it. If you don't know what money is, you are not like most humans. However, the task of defining what money is, where it comes from and what it's worth belongs to those who dedicate themselves to the discipline of economics.
While the creation and growth of money seems somewhat intangible, money is the way we get the things we need and want. Here we look at the multifaceted characteristics of money.
Read Full Article at investopedia.com
While the creation and growth of money seems somewhat intangible, money is the way we get the things we need and want. Here we look at the multifaceted characteristics of money.
Read Full Article at investopedia.com
Gold off 5-½ month high; silver, platinum fall
Gold fell $1 on Friday, after having risen to its best level in 2007 a day earlier, but bargain hunters were expected to resurface around current levels and offer some support.
Other precious metals hovered below their highs hit on Thursday and were expected to track movements in gold, which may also find support from purchases from jewellery makers ahead of the Lunar New Year in February.
Spot gold fell to $645.10/646.10 an ounce from$646.60/647.60 an ounce late in New York on Thursday, when it had risen to its highest since early August at $654 an ounce.
Read Full Article at Reuters South Africa
Other precious metals hovered below their highs hit on Thursday and were expected to track movements in gold, which may also find support from purchases from jewellery makers ahead of the Lunar New Year in February.
Spot gold fell to $645.10/646.10 an ounce from$646.60/647.60 an ounce late in New York on Thursday, when it had risen to its highest since early August at $654 an ounce.
Read Full Article at Reuters South Africa
Second day record close for the JSE
After opening softer after yesterdays record high the All Share climbed up another 0.5% to end at 25572.390. This was due to a rise in the resource sector with Gold Mining and Platinum Mining ending 1.51% and 1.60% higher respectively. The Industrial 25 was also up 0.46% unfortunately the financials where down 0.49%.
The gold price rose 0.93% to trade at $653.75/oz but the key was the weakening in the Rand to trade at 7.2219 to the dollar.
Other Stats
Rand-Sterling 14.2298 1.64%
Rand-Dollar 7.2219 1.21%
Rand-Euro 9.3698 1.40%
Gold 653.75 0.93%
Platinum 1180.00 1.24%
Brent Oil 55.58 0.27%
Current Trades
Again nothing since I missed to boat. I will however have more time to scan for opportunities when the auditors leave me alone in my corner.
Watch List
1)JSE CODE:NHM 4801 -5.27 %
SECTOR: Platinum & Precious Metals
Comment: This is more like it! Will need to check the charts to see if my 4500 will be a good entry point.
2)JSE CODE:SOL 24515 1.31 %
SECTOR: Integrated Oil & Gas
Comment: Still holding thumbs for a pull back for me to jump on. The oil price seems to have support at their current levels so it is unlikely in the short term.
Tomorrow
Again I fly in the face of wisdom and call for a pullback in the short term but I am still bullish in the longer term
The gold price rose 0.93% to trade at $653.75/oz but the key was the weakening in the Rand to trade at 7.2219 to the dollar.
Other Stats
Rand-Sterling 14.2298 1.64%
Rand-Dollar 7.2219 1.21%
Rand-Euro 9.3698 1.40%
Gold 653.75 0.93%
Platinum 1180.00 1.24%
Brent Oil 55.58 0.27%
Current Trades
Again nothing since I missed to boat. I will however have more time to scan for opportunities when the auditors leave me alone in my corner.
Watch List
1)JSE CODE:NHM 4801 -5.27 %
SECTOR: Platinum & Precious Metals
Comment: This is more like it! Will need to check the charts to see if my 4500 will be a good entry point.
2)JSE CODE:SOL 24515 1.31 %
SECTOR: Integrated Oil & Gas
Comment: Still holding thumbs for a pull back for me to jump on. The oil price seems to have support at their current levels so it is unlikely in the short term.
Tomorrow
Again I fly in the face of wisdom and call for a pullback in the short term but I am still bullish in the longer term
S.Africa 2007 growth to moderate - Moody's Economy.com
South Africa's economic growth should moderate in 2007 as domestic demand cools in response to tighter monetary policy, research group Moody's Economy.com said on Thursday.
The government has projected economic growth for 2007 will match last's year's 4.4 expansion, down from the two decade record of 5.1 percent in 2005.
Read Full Article at Reuters South Africa
The government has projected economic growth for 2007 will match last's year's 4.4 expansion, down from the two decade record of 5.1 percent in 2005.
Read Full Article at Reuters South Africa
Oil holds at $55
Oil held over $55 a barrel on Thursday, as technical buying and plans to increase emergency US stockpiles offset builds in crude and distillate fuel inventories in the world's top consumer.
US light crude for March delivery was down 23 cents at $55.14 a barrel by 04:17 GMT, having gained 33c on Wednesday. London Brent crude was down 8c to $55.35.
Read Full Article at FIN24.co.za
US light crude for March delivery was down 23 cents at $55.14 a barrel by 04:17 GMT, having gained 33c on Wednesday. London Brent crude was down 8c to $55.35.
Read Full Article at FIN24.co.za
Ten Tips For The Successful Long-Term Investor
While it may be true that in the stock market there is no rule without an exception, there are some principles which are tough to dispute. We'll review 10 general principles to help investors get a better grasp of how to approach the market from a long-term view. Keep in mind that these guidelines are quite general, each with different applications depending on the circumstance. But every point embodies some fundamental concept every investor should know.
1) Sell the losers and let the winners ride!
2) Don't chase the "hot tip"
3) Don't sweat the small stuff
4) Do not overemphasize the P/E ratio
5) Resist the lure of penny stocks
6) Pick a strategy and stick with it
7) Focus on the future
8) Investors adopt a long-term perspective
9) Be open-minded when selecting companies
10) Taxes are important, but not that important
Read Full Article at investopedia.com
1) Sell the losers and let the winners ride!
2) Don't chase the "hot tip"
3) Don't sweat the small stuff
4) Do not overemphasize the P/E ratio
5) Resist the lure of penny stocks
6) Pick a strategy and stick with it
7) Focus on the future
8) Investors adopt a long-term perspective
9) Be open-minded when selecting companies
10) Taxes are important, but not that important
Read Full Article at investopedia.com
Copper gains on China news, but gains seen capped
Copper prices rose on Thursday as strong economic growth in China boosted sentiment, but analysts said gains were likely to be capped by rising stocks and worries about oversupply.
Copper for delivery in three months traded at $5,850 a tonne in the first rings on the London Metal Exchange from Wednesday's close at $5,715 a tonne. It touched a two-week high of $5,902 on Thursday.
China's economy, the world's fourth-largest, grew 10.7 percent last year, the fastest since 1995, as investments and exports powered ahead despite government efforts to curb expansion.
China has seen double-digit growth for four years running.
Read Full Article at Reuters South Africa
Copper for delivery in three months traded at $5,850 a tonne in the first rings on the London Metal Exchange from Wednesday's close at $5,715 a tonne. It touched a two-week high of $5,902 on Thursday.
China's economy, the world's fourth-largest, grew 10.7 percent last year, the fastest since 1995, as investments and exports powered ahead despite government efforts to curb expansion.
China has seen double-digit growth for four years running.
Read Full Article at Reuters South Africa
Gold, palladium soars
Gold has rallied to a 5½-month high of $651.80/oz as investors saw potential for it to scale new peaks on expectations of a weakening of the US dollar.
Silver jumped to a one-month high, while palladium prices rose as high as $349 an ounce, the highest level in more than four-and-a-half months.
After several recent attempts, gold breached the $650-an-ounce mark and analysts said a weaker dollar and firmer oil prices should help it to scale new highs going forward.
Read Full Article at FIN24.co.za
Silver jumped to a one-month high, while palladium prices rose as high as $349 an ounce, the highest level in more than four-and-a-half months.
After several recent attempts, gold breached the $650-an-ounce mark and analysts said a weaker dollar and firmer oil prices should help it to scale new highs going forward.
Read Full Article at FIN24.co.za
G.Fields sets $1.2 bln capital raising, Q2 profit up
Gold Fields Ltd the world's fourth-biggest gold producer, launched a $1.2 billion capital raising on Thursday as it posted a 5 percent rise in second-quarter profit, beating analysts' expectations.
Gold Fields shares, which have shed 8 percent so far this year, fell 2.9 percent to 122.30 rand by 0835 GMT, compared to a 1.35 percent fall in the gold mining index.
The South African firm also said it had spent $528 million to close out the 1 million ounce hedge book of recent acquisition Western Areas.
Gold Fields said earnings per share for the three months to end December, excluding the effects of financial instruments and foreign debt, rose to 147 South African cents from a restated 140 cents the previous quarter.
Read Full article at Reuters South Africa
Gold Fields shares, which have shed 8 percent so far this year, fell 2.9 percent to 122.30 rand by 0835 GMT, compared to a 1.35 percent fall in the gold mining index.
The South African firm also said it had spent $528 million to close out the 1 million ounce hedge book of recent acquisition Western Areas.
Gold Fields said earnings per share for the three months to end December, excluding the effects of financial instruments and foreign debt, rose to 147 South African cents from a restated 140 cents the previous quarter.
Read Full article at Reuters South Africa
Sharp drop in producer inflation
SA's producer price inflation has braked to 9.3% in the year to December after a 10% rise in November, way below analysts' expectations.
The PPI declined -0.6% on a monthly basis after November's monthly increase of 0.5%.
The PPI was expected to have increased to 10.3% y/y in December, a survey of 12 economists by I-Net Bridge found.
A year ago PPI was at half the current levels, coming in at just 5.1%.
Read Full Article at FIN24.co.za
The PPI declined -0.6% on a monthly basis after November's monthly increase of 0.5%.
The PPI was expected to have increased to 10.3% y/y in December, a survey of 12 economists by I-Net Bridge found.
A year ago PPI was at half the current levels, coming in at just 5.1%.
Read Full Article at FIN24.co.za
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